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An investor constructs a ratio spread on a stock using 1-year call options. She buys one 75-strike call for a premium of 7.19 and sells

An investor constructs a ratio spread on a stock using 1-year call options. She buys one 75-strike call for a premium of 7.19 and sells two 90-strike calls for a premium of 3.12 each. The continuously-compounded annual risk-free interest rate is 3%. Let S be the price of the stock after one year. Determine the range of S for which profit is positive.

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